Plus500 Review, Forex Broker&Trading Markets, Legit or a Scam

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These allow you to speculate on the future price of the underlying reference instrument and differ from regular options in that they are cash settled. Then they made the account opening process the most simple it could possibly be. Instead of having to get a notarised copy of your passport and post in bank statements, Plus500 clients could open an account online and start trading with real money in about 5 minutes.

However, most customers got their accounts up and running again in 2 months. The branches in Australia and Cyprus, though, were not affected. In June of the same year, Plus500 agreed to a $703 million bid for takeover by Playtech, an online gambling company with ambitions to expand into trading.

Opening an account with Plus500 is a straightforward process that should take no longer than one business day to complete. Investopedia requires writers to use primary sources to support their work. These include white papers, government data, original reporting, and interviews with industry experts. We also reference original research from other reputable publishers where appropriate. You can learn more about the standards we follow in producing accurate, unbiased content in oureditorial policy. Plus500 is regulated by the FCA which is one of the main regulatory agencies in the U.K.

Platform & Features

Not providing MT4 as an alternate platform, and no auto-trading make this broker unsuitable for technically oriented traders. Furthermore, Plus500 is not the most beginner friendly place to trade either due to its weak educational resources combined with the complexity and risk of CFD trading. However, experienced investors who prefer to enter and exit their trades manually may find the functionality trade-off worth the lower expenses. Payments will be a crucial concern for anyone reading this Plus500 review. You can choose from card payments, e-wallet transfers or wire transfers when making a deposit. Only Visa and MasterCard debit and credit cards are accepted, while e-wallets are limited to Skrill and PayPal.

This may impact how, where and which companies / services we review and write about. Our team of experts work to continually re-evaluate the reviews and information we provide on all the top Forex / CFD brokerages featured here. Our research focuses heavily on the broker’s custody of client deposits and the breadth of its client offering.

We found Plus500’s customer support excellent compared to other CFD providers – with support available 24/7 on live chat and via email. Overall, we think that the education section could be improved with a greater variety of materials in addition to providing sections for more experienced traders. Traders would also benefit greatly from being able to attend webinars on CFD trading basics and risk management.

In some markets, guaranteed stops are provided, but this is with an increased spread and cannot be linked to trades opened before. In Forex trading often, accounts lose money, more than what is deposited. This possibility is not applicable for Plus500 broker as it provides negative balance protection as per ESMA rules that came into force in 2018. Assured stop-loss axiory review orders may be used on specific instruments and CFDs based on market conditions, but these are subject to a broader spread. While traders may download a desktop client for Windows 10 devices, I recommend the lightweight webtrader, as the functions remain the same. The trading platform is user-friendly but does not support algorithmic or social trading.

For accounts that are idle for over 3 months, a $10 per month inactivity fee is charged. General ease of use makes this broker an appealing choice for newbies. Traders need to understand and remember that CFDs are leveraged, complex products that may be accompanied with the risk of incurring losses that may exceed the initial deposit of the trader. This makes the offering that Plus500 has all the more attractive and it also caters for both beginner traders and professionals alike.

The FAQ section is helpful on a variety of topics as well, but none of the entries are particularly detailed. Plus500 offers a variety of educational materials ranging from videos and guides. You can choose to go the traditional way of signing up with an email address, your telephone number, full name, and a preferred password. Or you can speed up the process by signing in with any of your web-based accounts, such as Facebook, Twitter, and Gmail. For example, credit cards, debit cards, and Skrill can process your withdrawals in the shortest time possible.

Other Fees

These means that funds cannot be used for any other purpose by the company such as hedging, speculation or running costs. Tax really is an issue that varies from jurisdiction to jurisdiction and isn’t the responsibility of the broker. Traders should consult with local accountants, or legal professionals to determine any tax liabilities when trading at Plus500.

A stock is a security that represents partial ownership of a corporation. Keep in mind that when trading stock CFDs you are speculating on the price of a stock without actually taking ownership of the underlying company. Plus500 has been conscious of the importance of account security, with two-factor authentication available for both mobile and web platforms. Plus500 have clearly invested heavily in their proprietary WebTrader platform, which has taken ease of use to a new level. Robinhood, the US stock broker, has a famously slick, minimalist and intuitive platform.

The most appealing feature of Plus500’s WebTrader and other versions of their platform is that it’s easy to use with layouts that will feel familiar to experienced traders. Clients can choose from more than 2,000 instruments, analyze their selection on a customizable technical analysis chart, and place their trade in just a few clicks, all within the same window. Advanced traders who rely on incorporating third-party analytical and automation tools in their trading process will be disappointed as none of these tools can be integrated directly. With more than 2,000 tradable instruments, no commissions, next to no account management fees, and a sleek and simple trading platform, it’s rather clear that Plus500 is much more than good.

It is important to keep in mind that you can lose more than you initially invested. Forex, CFDs and Crypto trading offer exciting opportunities, but one should also keep in mind that these opportunities are accompanied with an equally high level of risk. Leverage may increase both profit and losses, and impulse trading should be kept in check. Therefore, always have a pre-set amount that you are ready to speculate. Cryptocurrencies are digital assets backed by the blockchain and are used as a transfer and store of value. Crypto trading is the buying or selling of these virtual currencies in real-time.

Plus500 Withdrawal fees

Forward Forex Market – Involving an Over the Counter contract to Buy or Sell a set amount of a currency for a future date. After signing up, you may also receive occasional special offers from us via email. We will never sell or distribute your data to any third parties. For some countries in the EU like Switzerland and Norway, users are protected up to €20,000, whereas users in Singapore, Israel, Australia, South Africa and New Zealand are not covered. Easily buy and sell Bitcoin, Ethereum, Litecoin and other virtual currencies with Euros on the world’s most trusted exchange.

From the menu screen, you can also easily switch between your demo and real money accounts. At the bottom, there’s an overview of your account balance with a link to a more detailed account snapshot. The Plus500 policy is to return funds only to the source from where they originated.

Customer Service and Support

While it’s certainly not the cheapest brokerage on the market, Plus500 has competitive fees, and at the time of writing, does not charge any commissions on trades. You can take a more detailed look at their fee structure in the table below. However, it is worth noting that Plus500 has some poor ratings on sites like Trustpilot. Some users have branded it a “scam site” and voiced various gripes. Some of these complaints look genuine, but many of them appear to be the handiwork of bots due to the baffling language used.

Staying on top of important market news announcements and being aware of big themes can be very helpful. The rating system provides a clear picture of how well your broker fulfills this service. In this section, we check the broker’s market offering and how varied the instruments and asset classes are. It will allow you to check if they offer what you’re looking for and what you can trade. Platforms are where you trade, so they must be secure, fast, and accessible while offering you the tools you need to succeed. Each broker’s desktop, web, and mobile platforms are evaluated according to the order types, speed of execution, ease of use, and other ‘need to know’ features.

The minimum deposit is $100, and the maximum leverage depends on the jurisdiction. I highly recommend the Seychelles unit for traders who require high-leverage trading conditions. I like the lightweight webtrader at Plus500 for beginner traders, but it lacks support for algorithmic trading solutions. The email and push notifications on market events and price movement alerts are also well-executed features. I do like the experience of trustpilot, prices are reasonable.

Withdrawals to a bank account might take longer, depending on your bank and jurisdiction. Users reported that e-mail responses take up to an hour, though response times vary depending on the complexity of the issue. Traders report that this broker is transparent with disclosing their rates and fees. Slippage occurs when the market price of a security experiences significant volatility and the broker is unable to secure the price established in the order.

Withdrawals

And is highly regarded globally for being strict in ensuring that market practices are fair for both individuals and businesses. Simply put, being regulated by a reputable government-backed agency goes a long way towards establishing the credibility of a firm.

Richard has many years of experience in broker research, testing, analysis and reviews. He knows what to look for through years of trading himself with different brokers and listening to the feedback of others. When trading with Forex CFDs, traders speculate on the price changes between the exchange rate of currency pairs.

Plus500 is a trusted online broker, regulated by top-tier authorities. Plus500 is known for their great trading platform and one of the best mobile apps. We found that it is great for CFD traders, customer support, easy to use platform and account opening process. Amateur traders who just want to test the waters will find invaluable features on the platform.

Finally, you must prove that you’ve worked professionally in a relevant position in the financial sector for a year or more. Clients from certain areas get money protection, which means they are guaranteed a refund if their money is lost due to Plus500’s differentiation python bankruptcy or any such event. The company’s UK-based audience is a crucial part of its revenue stream, and it shows. In late 2012, Plus500’s UK subsidiary was fined £205,128 by the FCA for not being able to accurately report transactions for over a year.

Plus500 is an excellent online broker for advanced traders looking to trade CFDs. It is regulated by tier-1 authorities and listed on a stock exchange. The user interface of its web-based and mobile platforms are great. Pro account provide significant levels of leverage for Forex traders.

Additionally, the site of Plus500 also has a “Live Statistics” section to indicate the performance of instruments and CFDs in time frames of 5 minutes, 60 minutes, and 1-day. Regrettably, WebTrader is not an open system, and professional traders cannot integrate third-party automated analytical tools directly on the platform. Also, some of the common features that are available on other platforms are missing on WebTrader. Some of them are the absence of automated trading through experts or trading algorithms, lack of back-testing functions, and not allowing clients to use third-party funds through MAM or PAMM platforms.

He worked as an arb clerk on the floor of the Chicago Mercantile Exchange , flashing orders into the currency futures pits. While we adhere to strict editorial integrity, this page may refer to our partners’ products. Before using Plus500 as a CFD provider one has to consider a few factors. Plus500 shares rose tradeallcrypto 19.4% to 682.2 pence in August 2019, making it the top performer in the FTSE 250 midcap index. Since its inception, Plus500 has put significant emphasis on its technological edge and continuous innovation. It has established a strong foundation from which it is well positioned to deliver future growth.

It’s apparently their technical problem since I tried three different devices and both my broadband and mobile internet work fine. The customer service people can’t help me and the only thing I can do is to wait for them to contact me at who knows when after their «investigation». People trade CFDs and commodities with high volatility and leverage on this platform. Can’t figure out a reason to use this platform when its service is not stable. PublicFinanceInternational.org helps traders and investors, from around the world, navigate the complex world of online brokers. We spend thousands of hours a year, both researching and testing brokers, to give you unbiased and extensive reviews.

You can also attract additional fees when making both incoming and outgoing bank transfers into and out of your Plus500 trading account. Be prepared to pay the charges placed on your international credit cards if you are using one to fund your CFD trading account on Plus500. In this Plus500 review, we took the time to underscore the relevance of this platform and all that it offers. We also paid serious attention to the reviews and testimonials from past and current users. You are about to gain great insight into one of the world’s best CFD brokerages.

If traders have to avoid high-risk transactions and prevent a scenario where accounts lose money on any brokerage platform, the site must have ample research and education amenities. Trading in CFDs and other instruments becomes easier as more information about the various techniques on the site helps traders avoid high-risk trades. It is necessary to know more about the CFDs and instruments markets where investments are being made. Unfortunately, what Plus500 offers on this score is not adequate. The WebTrader has a user-friendly interface that enjoys positive 4+ ratings from most of its users. It provides an extra layer of security through two-step logins.

They don’t charge a withdrawal fee on the first 5 withdrawals per month, this is a plus for traders with small amounts of capital. Please note that by investing in and/or trading financial instruments, commodities and any other assets, you are taking a high degree of risk and you can lose all your deposited money. You should engage in any such activity only if you are fully aware of the relevant risks. BrokerChooser does not provide investment or any other advice, for further information please read our General Terms and Conditions. WebTrader has a simple and easy-to-use interface that lets you create watchlists, analyze charts, as well as place and monitor trades.